Angola: Ex-President’s Son Arrested Over $500m Transfer

Angola’s state prosecutor has arrested the son of former President Jose Eduardo dos Santos over the alleged illegal transfer of five hundred million dollars from state coffers to an HSBC Holding Plc account in the UK.

José Filomeno dos Santos is the highest-profile figure to be held in custody since President Joao Lourenco succeeded former leader Jose Eduardo dos Santos a year ago vowing to tackle widespread corruption.

ANGOP said he had been arrested for “being part of a criminal association, irregular acceptance of advantages, fraud, embezzlement, and corruption, among others.”

In March, the younger Dos Santos, the former head of Angola’s $5 billion sovereign wealth fund, was charged with fraud relating to a $500 million transaction made of an account belonging to the central bank.